FX.co ★ Technical analysis and trading recommendations for the USD / CAD currency pair as of May 4, 2018

The USD / CAD currency pair has been moving for more than a week in a rather wide side channel 1,2800 / 1,2920, practicing each border consistently. Now we see a smooth working-off of the middle of the channel towards the upper border with the manifestation of moderate volatility in the market. Probably suppose saving the current mood, where the first move point is 1.2890 / 1.2920. In case of working off, we are waiting for another return to 1,2860 / 1,2800.

Traders should clearly view the breakdown of the main boundaries of 1,2800 / 1,2920. The flat is a stagnation, and, obviously, after a long wagging, impulses await us, which most traders are interested in.

Key Levels

Resistance - 1.2910; 1,3000 *; 1.3120.

Support 1,2800; 1.2660.

* Psychological level